ESG in a shifting financial services landscape: A conversation with RiskSphere

Elke Schreur and Sebastiaan Bredenbeek are both consultants at RiskSphere, a financial services consultancy focused on sustainability, risk strategies and compliance. We sat down with them to discuss their work in this rapidly shifting domain and what it takes to stay ahead as ESG priorities evolve.

Founded in early 2023 by Henk-Jelle Reitsma and Wim Meijer, RiskSphere aims to bridge the gap between financial expertise and sustainability risk management. The firm assists a diverse range of clients, including international banks, central banks, and sustainability startups, in navigating the transition toward sustainable business practices.

This month marks three years since Sebastiaan walked into the doors of RiskSphere. Back then, the firm was still in its early startup phase. “The past few years have truly flown by,” he reflects. “It is bizarre to realize that this adventure now spans almost half of my working life, while it still feels like a fairly new project. It feels like we’ve only been at it for a year or two.”

For Sebastiaan, moving on from his previous position at Solid Professionals and joining RiskSphere was more than a next step forward in his career. It was about fulfilling his desire to bring more focus to his career and to gain expertise in how financial institutions address ESG issues.

“That desire has certainly been fulfilled,” Sebastiaan adds. “What strikes me is that the sector started off incredibly proactively, but as a result, there are now many well-intentioned, but imperfect initiatives running simultaneously that are not always compatible. That presents a major challenge.”

This fragmentation often forces organizations into a reactive mode, where they spend more time reconciling conflicting data than actually managing their long-term sustainability risks.

Sustainability and diversity

RiskSphere helps organizations navigate the green transition by aligning sustainability strategy with data-driven compliance and operational excellence. The team combines technical ESG expertise with hands-on risk management to turn environmental and social mandates into measurable opportunities. “Maintaining our core focus has been an explicit choice,” says Sebastiaan.

“Parallel to that, something happened that was never really a very conscious choice: we implemented a very diverse hiring policy, incorporating multiple nationalities and many different disciplines. We have been able to make an impact at so many different companies, across a wide range of sectors and countries. That would never have happened if we had looked solely at standard profiles.”

Looking forward

This year, RiskSphere aims to expand its client base and continue its growth momentum. This has recently led the firm to broaden its services portfolio to include risk management and strategy consulting, both major components of sustainability risk.

“After all, in practice, we see that sustainability issues rarely exist in isolation from broader strategic choices or operational risks,” says Elke. “This broadening creates an open and flexible business model that allows room for entrepreneurship.”

“Indeed,” adds Sebastiaan. “Sustainability, risk, and strategy are increasingly interconnected. Integrating these themes more closely is a way to deliver greater value to clients.”

Another key goal for 2026 is to further develop RiskSphere’s expertise and grow its brand awareness. “As a small consultancy, we believe that reputation is built through quality of work, long-term relationships, and substantive authority. By sharing knowledge, actively participating in relevant networks, and strengthening collaborations, we want to ensure that organizations know where to find us for our expertise.”

Is the tide turning on ESG?

RiskSphere’s work comes at a time when the tide on sustainability seems to be turning. What was once a defining global priority now shows signs of slowing, as governments and businesses refocus on immediate concerns like security, competitiveness, and energy resilience.

This trend began to solidify last year, when Europe introduced the Omnibus legislation aimed at scaling back parts of its far-reaching CSRD regulation. Meanwhile, across the Atlantic, the second Trump administration officially withdrew the United States from the Paris Agreement for a second time, signalling a far more definitive move away from climate governance than was already seen during Trump’s first term.

For financial institutions, this ‘stalling’ actually creates a more complex operational environment. Rather than abandoning ESG, risk teams are now tasked with moving beyond high-level pledges toward what Sebastiaan calls “defensive sustainability”.

“We’re noticing a shift where institutions are primarily occupied with complying to legislation, ensuring data auditability, and building legal resilience, rather than asking how they can proactively use their social function to green the planet.”

“The global deprioritization of ESG has had an impact on the nature of our work,” says Sebastiaan, who points out that while some financial institutions have scaled back their ESG ambitions to focus mainly on this defensive compliance, others have maintained their steadfast commitment to ESG as an essential driver of the world’s future.

A strong believer in the strategic importance of sustainability for the planet’s future, Sebastiaan says he is heartened to see many financial institutions maintain their course despite today’s setbacks. “As the climate crisis continues, political trends seem insignificant in the face of real climate change.”

Forward-looking institutions are turning commitment into action, making critical adjustments designed to outlast political uncertainty. “In practice, their risk teams are embedding long-term climate realities into core strategic decisions.”

“The paradox,” Sebastiaan adds, “is that sustainability is perhaps the most material risk over decades, yet its daily impact can feel limited. When safety or security demands attention, sustainability slips out of sight.”

Elke agrees: “Sustainability is, in our view, the most material risk out there – especially if you take a long-term perspective on the world’s changing order.”

Making an impact

It is this belief in making a positive impact in financial services that keeps Elke committed to her mission at RiskSphere. “In a world where climate and geopolitical risks are increasing, we believe organizations need clear analyses, realistic strategies, and a pragmatic view of risks. RiskSphere wants to make a lasting contribution to that.”

“We provide more than just compliance; we provide the clarity needed to lead in a changing world,” says Elke. “As the lines between geopolitical stability and environmental concerns continue to blur, our work ensures that organizations remain grounded in realistic strategies. We are here to prove that a steadfast commitment to ESG is not just an ethical choice, but the most pragmatic business strategy available.”